WildTangent Inc., a
Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that it provided $20 million in debt financing to WildTangent on November 21, 2007. WildTangent is privately held and a leading online gaming network.
“The casual gaming market is growing exponentially, and WildTangent has proven to be a key player,” said Sam Bhaumik, senior managing director and group head of technology at Hercules. “WildTangent is a leader in developing new and exciting business models in the online games space,” Bhaumik said. “They have invented an industry-leading platform that provides unparalleled opportunities for marketers to appeal to gamers, while enhancing and adding value to the overall gaming experience”
WildTangent powers game services for all leading PC manufacturers in the U.S. including Hewlett-Packard, Dell, Toshiba and Gateway, as well as a growing number of vertical sites and portals. Collectively, WildTangent's owned and operated service reaches over 15 million monthly gamers in the U.S. and Europe with a catalog of more than 450 casual and enthusiast games from nearly 100 top tier and independent developers. The company's own WildTangent Game Studios has produced top-selling downloadable games such as “Fate” and “Polar Bowler.”
“PC gaming is the single most popular computer activity after e-mail and chat,” said Alex St. John, chief executive officer and co-founder of WildTangent. “Hercules plays a critical role in helping us expand our current offering and create an even richer gaming experience for gamers around the world.”
Bhaumik added that WildTangent boasts a strong venture-capital investor base, which includes Accenture Technology Ventures, Advanced Technology Ventures, CIBC Capital Partners, Granite Global Ventures, Greylock Partners, IDG Ventures, Madrona Venture, Millenium Technology Ventures and New Millennium Partners.
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, Los Angeles and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.
Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.
Founded in 1998, WildTangent is the fastest growing online game property in the world with 11.5 million unique monthly gamers (comScore